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v3.23.3

Business Segments (Tables) | 9 Months Ended
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Sep. 30, 2023
Segment Reporting [Abstract] |
Business Segments |
Financial Information By Segment
(In thousands) | Shopping Centers |  | Mixed-Use Properties |  | Corporate and Other |  | Consolidated Totals
Three Months Ended September 30, 2023 |  |  |  |  |  |  |
Real estate rental operations: |  |  |  |  |  |  |
Revenue | $ | 44,014 |  |  | $ | 19,752 |  |  | $ | — |  |  | $ | 63,766 |
Expenses | (9,945) |  |  | (7,416) |  |  | — |  |  | (17,361) |
Income from real estate | 34,069 |  |  | 12,336 |  |  | — |  |  | 46,405 |
Interest expense, net and amortization of deferred debt costs | — |  |  | — |  |  | (12,419) |  |  | (12,419) |
Depreciation and amortization of deferred leasing costs | (7,156) |  |  | (4,940) |  |  | — |  |  | (12,096) |
General and administrative | — |  |  | — |  |  | (5,179) |  |  | (5,179) |
Net income (loss) | $ | 26,913 |  |  | $ | 7,396 |  |  | $ | (17,598) |  |  | $ | 16,711 |
Capital investment | $ | 3,952 |  |  | $ | 43,949 |  |  | $ | — |  |  | $ | 47,901 |
Total assets | $ | 920,442 |  |  | $ | 1,016,267 |  |  | $ | 24,214 |  |  | $ | 1,960,923 |
Three Months Ended September 30, 2022 |  |  |  |  |  |  |
Real estate rental operations: |  |  |  |  |  |  |
Revenue | $ | 42,478 |  |  | $ | 18,609 |  |  | $ | — |  |  | $ | 61,087 |
Expenses | (8,826) |  |  | (7,247) |  |  | — |  |  | (16,073) |
Income from real estate | 33,652 |  |  | 11,362 |  |  | — |  |  | 45,014 |
Interest expense, net and amortization of deferred debt costs | — |  |  | — |  |  | (11,103) |  |  | (11,103) |
Depreciation and amortization of deferred leasing costs | (7,073) |  |  | (5,122) |  |  | — |  |  | (12,195) |
General and administrative | — |  |  | — |  |  | (5,555) |  |  | (5,555) |
Loss on early extinguishment of debt | — |  |  | — |  |  | (648) |  |  | (648) |
Net income (loss) | $ | 26,579 |  |  | $ | 6,240 |  |  | $ | (17,306) |  |  | $ | 15,513 |
Capital investment | $ | 2,280 |  |  | $ | 30,315 |  |  | $ | — |  |  | $ | 32,595 |
Total assets | $ | 936,285 |  |  | $ | 855,797 |  |  | $ | 17,936 |  |  | $ | 1,810,018 |
Financial Information By Segment
(In thousands) | Shopping Centers |  | Mixed-Use Properties |  | Corporate and Other |  | Consolidated Totals
Nine Months Ended September 30, 2023 |  |  |  |  |  |  |
Real estate rental operations: |  |  |  |  |  |  |
Revenue | $ | 132,214 |  |  | $ | 58,310 |  |  | $ | — |  |  | $ | 190,524 |
Expenses | (28,667) |  |  | (21,424) |  |  | — |  |  | (50,091) |
Income from real estate | 103,547 |  |  | 36,886 |  |  | — |  |  | 140,433 |
Interest expense, net and amortization of deferred debt costs | — |  |  | — |  |  | (36,518) |  |  | (36,518) |
Depreciation and amortization of deferred leasing costs | (21,350) |  |  | (14,877) |  |  | — |  |  | (36,227) |
General and administrative | — |  |  | — |  |  | (16,125) |  |  | (16,125) |
Net income (loss) | $ | 82,197 |  |  | $ | 22,009 |  |  | $ | (52,643) |  |  | $ | 51,563 |
Capital investment | $ | 9,840 |  |  | $ | 137,427 |  |  | $ | — |  |  | $ | 147,267 |
Total assets | $ | 920,442 |  |  | $ | 1,016,267 |  |  | $ | 24,214 |  |  | $ | 1,960,923 |
Nine Months Ended September 30, 2022 |  |  |  |  |  |  |
Real estate rental operations: |  |  |  |  |  |  |
Revenue | $ | 128,615 |  |  | $ | 54,909 |  |  | $ | — |  |  | $ | 183,524 |
Expenses | (27,102) |  |  | (20,724) |  |  | — |  |  | (47,826) |
Income from real estate | 101,513 |  |  | 34,185 |  |  | — |  |  | 135,698 |
Interest expense, net and amortization of deferred debt costs | — |  |  | — |  |  | (32,162) |  |  | (32,162) |
Depreciation and amortization of deferred leasing costs | (21,300) |  |  | (15,599) |  |  | — |  |  | (36,899) |
General and administrative | — |  |  | — |  |  | (15,988) |  |  | (15,988) |
Loss on early extinguishment of debt | — |  |  | — |  |  | (648) |  |  | (648) |
Net income (loss) | $ | 80,213 |  |  | $ | 18,586 |  |  | $ | (48,798) |  |  | $ | 50,001 |
Capital investment | $ | 6,239 |  |  | $ | 78,270 |  |  | $ | — |  |  | $ | 84,509 |
Total assets | $ | 936,285 |  |  | $ | 855,797 |  |  | $ | 17,936 |  |  | $ | 1,810,018 |

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